• Tuesday, December 05, 2023
businessday logo


BCG launches to help African companies realize climate ambition

BCG launches to help African companies realize climate ambition

Boston Consulting Group (BCG) has launched the Centre for Climate & Just Transition in Africa as part of its global focus on helping companies and governments accelerate their climate and sustainability journeys.

BCG notes that Africa is disproportionately exposed to the risks posed by climate change, pointing that increased climate volatility, rising water scarcity and the occurrence of extreme events such as droughts and floods will have a devastating effect on local livelihoods and regional food systems.

“Both climate and Africa are priorities for BCG globally, and that is why we are launching our Centre for Climate & Just Transition in Africa, with the purpose of unlocking the full potential of Africa to advance climate action and a Just Transition,” said Lucas Chaumontet, managing director and partner at BCG, Johannesburg.

Read also: How institutional investors see future of Nigeria, Global energy sector- Boston Consulting

The Centre will work to address the impact of climate change and accelerate progress towards net-zero while ensuring a Just transition by focusing on three key priorities; co-creating an aligned national and continental climate fact base to help alignment, decision, and cooperation among key stakeholders; mobilising forces to build and scale globally competitive green industries to improve the economic context, which is critical to achieve a Just Transition; and developing critical capabilities within the public and private sectors to drive local leadership and ownership in African countries in this journey

“Nigeria’s economic development has been impeded by poor power supply for many years due to several factors, not least the degradation and under-capacity of the power infrastructure in the country. However, the passage of the Nigerian Electricity Bill 2022, which empowers states to generate electricity and licence investors to install mini-grids, renewables and power plants, is a key ingredient for a just transition to net zero whilst addressing the urgent need for energy access,” said Oluseun Solanke-Ebhojie, partner and associate director, BCG Nigeria.